Igate Ceo Vemuri To Get Over Rs 1 Crore As Performance Bonus

[cherlapalli_jailer]

[cherlapalli_jailer]

Within six months of joining iGate as CEO, Ashok Vemuri will get a performance bonus of $175,000 (about Rs. 1.10 crore) for his strategic initiatives, which helped the US-based outsourcer grow revenues by over 10 per cent in the December quarter.

Vemuri, who joined the US-based outsourcing firm in September last year, will get $28,000 (about Rs. 17 lakh) in recognition of his strategic initiatives and speed of implementation during 2013, iGate said in a filing to the SEC.

This is in addition to the annual performance based incentive of $147,000 (around Rs. 91 lakh), it added. Besides, the company's compensation committee approved Vemuri's annual performance-based incentive compensation for 2014 with a target annual bonus of $500,000.

The actual annual bonus payable to Vemuri for 2014 will be based upon the company's achievement of certain revenue, EPS (earnings per share) and EBITDA (earnings before interest, tax, depreciation and amortisation) targets set by the compensation committee, iGATE said.

This could range from 0-200 per cent of the performance based compensation target, it added.

Vemuri joined iGate on September 16, 2013 after its former CEO Phaneesh Murthy was sacked for not disclosing a relationship with a subordinate. Vemuri, employed initially for a five-year term, will get an annual base salary of $1.3 million (around Rs. 80 lakh) along with an annual cash bonus.

iGate revenues rose by 10.2 per cent at $299.3 million in October-December, 2013 from $271.6 in the same quarter of 2012.

In the December quarter, iGate completed restructuring, which according to Vemuri will help the firm better leverage the enormous talent, institutionalise the deliver engine, increase focus of the sales team and identify client issues faster to drive growth.

The committee has also revised the salary of its HR head Srinivas Kandula to Rs. 1.4 crore ($224,404) from Rs. 1 crore ($160,288) based on recommendations made by Vemuri.

His performance-based target bonus has also been increased to Rs.70 lakh ($112,202) from Rs. 50 lakh ($80,144) with a maximum payout of 150 per cent of the target for the current year.

Vemuri's also recommended increasing compensation of CFO Sujit Sircar's salary to Rs. 1.66 crore ($266,880 ) from Rs. 1.2 crore ($192 ,346) for 2014 was also accepted.

Sircar's performance-based target bonus for 2014 has also been increased to Rs. 83 lakh ($133,841) from Rs. 72 lakh ($115,408) with a maximum payout of 150 per cent of the target.

The compensation committee also approved payment of annual performance-based incentive compensation for 2013 in the amount of Rs. 90 lakh ($144,260) for 2013.

[cherlapalli_jailer]

()>>  sHa_clap4

[valluriv]

miru dengandi kotlu kotlu ilage..ma lanti valaki hike ivtaniki yedichi sastaruuuuuuuuuuuu

[cherlapalli_jailer]

miru dengandi kotlu kotlu ilage..ma lanti valaki hike ivtaniki yedichi sastaruuuuuuuuuuuu

lol

 

iGate vunna Desi companies lo better anukunta ...not sure 

[valluriv]

ha better..patni  pedda rod company..igate vadu tisukunaka bane develop chesdadu(konni chilipi panulu chesthu..)

[Betting Bangarraju]

Ashok ganni miss chesukuni former company chala pedda thappu chesindi. Eedu prev. company lo nearchukunnavanni ikkada velagabeduthunnadu. Eppudu mana desi companies ki buddi vasthundo. Unna employees ni slaves kinda choostharu. Top management lo unnollaki dabbulu Den ga bedatharu. It really s-ucks working with our desi companies. They ruin our lives for sure....career growth is very minimal paiga kullu politics, egoistic environment, competition. 

 

Consultant ga work cheddam ante.... akkada anni OK kaani Job Security ledu. Ento ee blow jobs...I mean oka rakamaina blow jobs...  &*B@

[valluriv]

ayna idi em undhi le..denikanna desi companies lo kella athi musti munda company polaris...pusthakalu raychuu dani midha....boothulu kooda saripovu

[Betting Bangarraju]

ayna idi em undhi le..denikanna desi companies lo kella athi musti munda company polaris...pusthakalu raychuu dani midha....boothulu kooda saripovu

 

Yeah...Polaris, Patni undedi list lo. 

 

Okappudu CTS kooda undedi....Ippudu one of the best antunnaru. 

[bokuboy]

black money 

[valluriv]

CTS fastest growth le last 4 yrs nundi..bale pick ayindhi..kani ee 2 companies jamana kalam vatiki..inka alage yedusthunayii...cheap politics valla..

[cherlapalli_jailer]

Ashok ganni miss chesukuni former company chala pedda thappu chesindi. Eedu prev. company lo nearchukunnavanni ikkada velagabeduthunnadu. Eppudu mana desi companies ki buddi vasthundo. Unna employees ni slaves kinda choostharu. Top management lo unnollaki dabbulu Den ga bedatharu. It really s-ucks working with our desi companies. They ruin our lives for sure....career growth is very minimal paiga kullu politics, egoistic environment, competition. 

 

Consultant ga work cheddam ante.... akkada anni OK kaani Job Security ledu. Ento ee blow jobs...I mean oka rakamaina blow jobs...  &*B@

agreed but that is how we grow 

[sitaraZahir]

Infosys grow avataniki main reason... Phaneesh